President Donald Trump is promising tax debt forgiveness to millions of working families and retirees who need relief from IRS collection.
Trump announced on Tuesday his plan to expand the IRS Fresh Start Program and forgive over $300 million in taxpayer debt in 2025. If enacted, this would be the largest tax forgiveness windfall in American history.
The Fresh Start Program has provided real relief to taxpayers since it was launched in 2011, helping reduce or even completely erase their tax debts. Thanks to last year’s budget increase, the IRS has been able to approve more applications for Fresh Start Programs than ever before.
On the campaign trail, Trump pledged to end taxes on tips, Social Security benefits, overtime pay, and even eliminate income taxes. According to policy analysts, Trump’s promise to forgive a record amount of tax debt is his most realistic proposal, as the Tax Cuts and Jobs Act of 2017 is set to expire.
With Republicans winning majorities in the House and Senate, Trump can enact a tax bill without making concessions to Democrats, essentially giving him free reign over tax forgiveness and IRS funding.
These political trade winds could create a perfect scenario for thousands of Americans who desperately need relief from tax debt.
If you owe federal back taxes and can’t afford to pay them in full, applying for tax relief before the end of this month is critical. The IRS charges an additional 5.5% on unpaid taxes each month, along with interest charges that accrue daily.
Tax debt affects thousands of Americans; however, few seek assistance to resolve their debts with the IRS. It’s not that the resources are unavailable, but that the IRS bureaucracy often gets too complicated for the average American to handle.
In truth, fighting the IRS is a full-time job, so Americans are turning to reputable tax relief firms to ensure that they receive the most relief possible.
Many Americans do not realize they qualify for tax relief because they never took the time to check their eligibility for tax relief programs.
Remember, it is 100% free to see if you qualify for the IRS Fresh Start Program, and a few minutes could help you save thousands.
Take the Next Step
Every day, your tax debt grows larger due to penalties and fees. It is vital to act now and partner with a tax relief expert to receive the best resolution possible.